Considerations for Pricing to Sell

Most sellers have an emotional connection to their home and feel it deserves top dollar when being sold.  Everyone naturally wants to get the most money for his or her product, but caution should be used when making this all important decision.  The most common mistake that causes sellers to get less than they hope for is listing the sale price too high.

Listings reach the greatest proportion of potential buyers within the initial days after hitting the market.  If a property is overpriced early on, it will be dismissed -- or outright missed -- by prospective buyers.  Overpriced properties languish on the market, and most end up selling at a price lower than would have been realized had it been priced properly in the first place.  The following considerations should be taken into account:

Square Footage

Total square footage is important, but just a starting point for buyers who will use it to narrow down the field, but make an actual purchase based on many other factors.

Location within a community

A home in a quiet cul-de-sac will fetch more than a home on a busy street.  Homes with ski-trail proximity and homes with stream or golf course frontage are more valuable than more remote properties.

Views

Buyers will usually pay a premium for a home with great views, whether of ski slopes, mountains, forests or streams/lakes.

Upgrades and Features

A home should be finished with as many structural and design upgrades as possible.  From molding, to solid doors, to fresh paint, door handles, cabinets and cabinet hardware -- any functional or beautification enhancement will increase the value of a home.  Additionally, modern appliances, windows, counters, mechanical systems and floor treatments greatly enhance the value of a home.

Community Amenities

Homes in communities with a clubhouses, swimming pools, fitness centers and tennis courts are sold for more than similar homes without these amenities.

Comparable Sales

Price your home referencing sold comparables -- price-per-square-footage of other homes that have already sold in your community -- up to three months previous as a maximum, since looking beyond three months is simply not a realistic portrayal of current market conditions. and may steer you in the wrong direction.  It is also important to compare your home to active competing listings -- homes currently for sale, which is the best tool for honing an effective pricing strategy -- particularly for highly motivated sellers.

Current Mortgage Conditions

The current mortgage market has tightened its proverbial belt, and many lenders now require higher credit scores coupled with higher down payments, which can cash strap a buyer holding out for the best deal possible.  Every seller naturally wants to get the most money for his or her product, but the savvy seller will understand the mortgage industry's impact on the buyer and price accordingly.

As a seasoned, experienced professional Realtor®, Susan Gunnin fully understands these considerations and their interplay and can guide you to a reasoned and reasonable listing price for your property.